Organized by: Fairy, ChainCatcher

Important News:

• Binance to Launch EigenLayer (EIGEN)
• Taiwan Opens Up for Professional Investors to Invest in Foreign Virtual Asset ETFs via Re-Delegation
• Metaverse Project SecondLive Completes $12 Million Financing, Led by Crypto.com
• FTX Plans to Allocate $230 Million to Compensate Preferred Shareholders, Confirmation Hearing for Restructuring Plan Scheduled for October 7
• YuanCoin Technology Completes $7.8 Million Series A1 Financing, Participated by Sequoia China and Others
• Matrixport Acquires Swiss Compliant Crypto Asset Management Company Crypto Finance (Asset Management) AG (CFAM)
• Binance Pool Launches Bellscoin (BEL) Merged Mining, Mining LTC to Earn LTC, BEL, DOGE Rewards

"What Important Events Happened in the Last 24 Hours"

Binance to Launch EigenLayer (EIGEN)

According to the official announcement, Binance will launch EigenLayer (EIGEN) on October 1, 2024, at 05:00 (UTC), and will open trading pairs EIGEN/BTC, EIGEN/USDT, EIGEN/FDUSD, and EIGEN/TRY.

Taiwan Opens Up for Professional Investors to Invest in Foreign Virtual Asset ETFs via Re-Delegation

Taiwan's "Financial Supervisory Commission" announced the opening for professional investors to invest in foreign virtual asset ETFs via re-delegation. Eligible professional investors include: professional institutional investors, high-net-worth investment entities, high-asset clients, legal entities or funds that qualify as professional investors, and individuals who qualify as professional investors.

To ensure that investors have sufficient investment experience and knowledge, securities firms must establish a comprehensive suitability assessment system, which must be reviewed and approved by the board of directors when providing virtual asset ETF services. Before a client purchases a virtual asset ETF for the first time, the securities firm must assess whether the client has relevant investment experience and professional knowledge to ensure the suitability of the client's investment risk.

Apart from professional institutional investors, other investors must sign a risk disclosure statement before their first purchase of a virtual asset ETF. Securities firms must provide relevant product information to investors before accepting their first purchase of a virtual asset ETF to help investors fully understand the characteristics and associated risks of the virtual asset ETF they are investing in.

Federal Reserve Chairman Powell to Speak at the National Association for Business Economics at 01:55 AM Beijing Time the Next Day

At 01:55 AM Beijing Time the next day, Federal Reserve Chairman Powell will speak at the National Association for Business Economics. In this uncertain period filled with "noise," Powell may indicate the future policy direction of the Federal Reserve—how the "timely rain" of interest rate cuts will continue to unfold, which may lead to significant market fluctuations. Investors are advised to pay attention to related risks.

Metaverse Project SecondLive Completes $12 Million Financing, Led by Crypto.com

The metaverse project SecondLive announced the completion of a $12 million private financing round, led by Crypto.com, with participation from Capital Spark, Cypher Capital, Meta Estate, Taisu Ventures, New Tribe Capital, Bit Value Capital, Titans Ventures, Newave Capital, CSP DAO, and others.

This brings SecondLive's total financing to $15 million, with Binance Labs leading the seed round. SecondLive is active on eight major blockchains, including BNB Chain, Ethereum, and TON, with over 5 million registered users and 1.81 million UGC and AIGC digital assets. Its GenAI technology is driving innovation in scenarios, characters, and social interactions, contributing to the development of spatial networks.

YuanCoin Technology Completes $7.8 Million Series A1 Financing, Participated by Sequoia China and Others

According to official news, YuanCoin Technology announced the completion of $7.8 million in Series A1 financing. In this round, YuanCoin Technology received strategic investments from well-known industry players such as Sequoia China, Hivemind Capital, Aptos Labs, Hash Global, SNZ Capital, Solana Foundation, Anagram, and Upward Capital. YuanCoin Technology stated that this round of financing will connect the company to the Web 2 and Web 3 worlds and continue to contribute to the construction of the Web 3 ecosystem in Hong Kong.

It was introduced that on July 18, 2024, YuanCoin Technology announced that its subsidiary YuanCoin Innovation Technology Co., Ltd. has been included in the Hong Kong Monetary Authority's (HKMA) stablecoin issuer sandbox program. Meanwhile, another subsidiary, YuanCoin Wallet Technology Co., Ltd., has obtained a Stored Value Facility (SVF) license issued by the HKMA and will officially operate by the end of 2023. This Series A1 financing is another significant progress for YuanCoin Technology following its seed round financing in 2020. YuanCoin Technology has consistently received support from original shareholders such as ZhongAn Digital Asset Group Limited, HashKey Group, Dragonfly, Bright Venture, and Eminent Vision.

Binance Pool Launches Bellscoin (BEL) Merged Mining, Mining LTC to Earn LTC, BEL, DOGE Rewards

Binance Pool officially launched Bellscoin (BEL) merged mining. Users can mine Litecoin (LTC) to earn rewards in LTC, DOGE, and BEL.

FTX Plans to Allocate $230 Million to Compensate Preferred Shareholders, Confirmation Hearing for Restructuring Plan Scheduled for October 7

According to The Block, under a newly disclosed agreement, FTX debtors will allocate up to $230 million from the proceeds of government seizure actions to compensate preferred shareholders. The fact that this agreement was finalized after the deadline for FTX creditors to vote on the claims plan and announced 30 days later surprised and angered some creditors. Before the voting deadline on August 16, creditors overwhelmingly approved the FTX restructuring plan, but they were unaware of this clause. Although shareholders typically receive compensation last in bankruptcy proceedings, FTX debtors stated that compensating preferred shareholders would help avoid high litigation costs and delays associated with the seized proceeds.

Additionally, according to the latest FTX bankruptcy filings, the claims plan has not yet been approved by the court. The next court hearing to confirm the restructuring plan is scheduled for October 7, 2024. If the plan is approved, creditors with claims under $50,000 may begin to receive compensation by the end of 2024. Those with larger claims may have to wait until the first or second quarter of 2025 to receive compensation.

Matrixport Acquires Swiss Compliant Crypto Asset Management Company Crypto Finance (Asset Management) AG (CFAM)

Matrixport announced the formal completion of a cash acquisition of the Swiss compliant crypto asset management company Crypto Finance (Asset Management) AG (CFAM).

CFAM will be renamed Matrixport Asset Management AG (MAM) and will provide compliant crypto asset management services for the pan-European market, laying the groundwork for Matrixport's global compliant asset management.

Musk: If Trump is Not Elected, This Will Be the Last Democratic Presidential Election in the U.S.

Musk stated on his social media platform that few Americans realize that if Trump is not elected, this will be the last democratic election.

If one-twentieth of illegal immigrants become citizens each year (which the Democrats are pushing as fast as possible), there will be about 2 million new legal voters in four years. The vote margin in swing states is often less than 20,000 votes. This means that if the "Democrats" win, there will be no more swing states.

Additionally, the Biden/Harris administration has been directly airlifting "asylum seekers" to swing states such as Pennsylvania, Ohio, Wisconsin, and Arizona, allowing them to quickly obtain citizenship. This is a foolproof method to win every election. The U.S. will become a one-party state, and the democratic system will cease to exist. The only "election" will be the Democratic primary. This situation has already occurred in California for many years after the amnesty in 1986.

"What Exciting Articles Are Worth Reading in the Last 24 Hours"

FTX Compensation Imminent: Payouts May Be Less Than a Quarter, Shareholders "Cutting in Line" for $230 Million Distribution

Recently, the latest developments in the FTX bankruptcy case have sparked debates and panic among some in the crypto community. Initially, creditors were expected to receive only 10-15% of their assets, while shareholders were "forcing their way" to distribute $230 million in assets ahead of creditors. There were also rumors that FTX would start distributing repayment funds to creditors and customers on September 30, causing FTX's FTT token to surge over 80% within 24 hours, peaking at $2.71 before settling at $2.14.

The newly revised bankruptcy documents have incited public outrage.

According to the FTX bankruptcy plan, which received "overwhelming preliminary support" from creditors, 98% of creditors were to receive at least 118% of their claim value in cash.

However, on September 28, FTX creditor representative Sunil Kavuri disclosed the latest revised bankruptcy documents on the X platform, stating that the refund amount would be based on the value of cryptocurrencies at the time FTX submitted its application. As a result, creditors would actually receive "10% to 25% returns on their cryptocurrencies." For instance, Bitcoin was only about $16,000 at that time.

This decision left many creditors disappointed and even sparked anger among FTX creditors.

Good News Keeps Coming, Tokens Up 50% This Month, Is ZKsync's Moment of Revival Finally Here?

Since the airdrop, ZKsync has faced a barrage of bad news, with ecosystem data plummeting and token prices following suit, dropping from a high of $0.29 to as low as $0.08, a decline of 72.8%. Moreover, there were reports of a 16% staff layoff.

However, since entering September, ZKsync has been making headlines with new developments, including hiring a chief marketing officer from Solana, launching an on-chain governance system, and welcoming the migration of Treasure DAO. It seems ZKsync is on the verge of a revival. PANews provides a comprehensive analysis of ZKsync's recent developments to see if this once-celebrated star L2 is about to experience a resurgence.

DeSci Leaders Get Creative, Can Pump.science Successfully Play the "Biological Science Meme" Game?

At the Token 2049 Solana Breakpoint conference, the Solana ecosystem's DeSci platform Molecule DAO launched a new meme token platform called Pump.Science. Unlike other meme token platforms, Pump.science's unique feature lies not in its token issuance mechanism, but in allowing medical researchers to submit drug research proposals. They can then test the drugs on worms and transmit the results to the platform's front end. During this process, users can participate in the testing by trading meme tokens that represent the drugs.

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